How to Start Import Export Business?
Dream to expand your Business World Wide, but you don’t know how to start Export-Import Business….??? Then you reach to the Right Place. Here you will find simple and easy ways of Setting up Export-Import Business.
Select Your Business Name and Set up a Website and Blog
First of all, you must have a website which shows the products and services related to your business. Without a website or blog, you can’t do import export business. Get yourself a platform that allows you to develop a presence worldwide, online and grow your business beyond your wildest imagination. The main aim of the website is to balance the flow of communications, sell products online (or offline), build a trust as good supplier and build your customer base to drive profits for import export or international business.
But, you should have to take care to register your firm name with a good and reputable web host because your domain name is what clients will use to find you and your business.
There are many places to get started with a website like your local Web Development Service Provider which will provide you with all services like Domain name registration, hosting, web development etc. And if you have the skill then you may consult other services like Network Solutions, Go, Daddy, Intuit, and Verio. These all offer domain name registrations and affordable website hosting packages with easy to use, drag and drop site building capabilities.
To create a professional blog, which allows for a continuous flow of engaging communications, try Blogger, Typepad or WordPress. These all services will help you to create a blog in minutes with stunning designs, reliable hosting and on-demand tech support. In simple words, it’s very easy procedure.
Now you are ready to share your business expertise and capabilities and sell your products to the whole world and expand your business worldwide.
Pick a Product to Import or Export Business
When it comes to importing and exporting products, you must select a product category which you have your own expertise. You cannot sell all things to all type of customers, Decide the goal of your business and stick with it.
There are many viable reasons for choosing a product to import or export business:
- You know it will sell.
- You like it to sell it to anyone in the world.
- You have proper knowledge of Product from top to bottom (Manufacturing to Enduser). etc. (maybe many more)
Hopefully, you can meet criterias for import export business. That’s an ideal import export business model.
Find the Right Market for Import or Export Business
After you’ve selected product, obviously now you must look for someplace to sell it…! You will improve orders by picking potentially trending winner product for your business. Getting an idea of the ground floor about product range which you choose for your import export business will become a super seller in a destination country could be the business breakthrough of a lifetime…!
Do the proper planning and research of the market beforehand to locate the best potential foreign market for your products or services. There are mainly two places to check it.
You might also check with local government officials to best determine sources for conducting market research. For example, in the United States, there are the Department of Commerce International Trade Administration’s Data and Analysis and the U.S. Census Bureau Foreign Trade, which governs the reporting of all import export statistics. These resources are helpful for determining where in the world products and services are moving to and from, and why and how to get in on the action.
Source a Supplier for Import or Export Business
When do you decide to do import or export business, you should learn each and every prospect of the business. If you are not a manufacturer, how would you improve it? Shake hand with a manufacturer, you will suggest product improvements. Your suggestions might create the big difference in the current product like a Sony Walkman and an Apple iPod. For you, it may be Unique or monopoly product for your business.
The easiest and viable way to find reputed and trustworthy suppliers might be Alibaba, Global Sources, and Thomas Register. There are many others, but these three are mainly considered to find High-Quality Suppliers, Manufacturers, Exporters, Importers, Buyers, Wholesalers, and Trade Leads.
Decide the right Price of Product for Import or Export Business
The import export business is mainly based on two factors within the criteria of international sales.
- Volume (number of units sold).
- Commission on that volume.
Make the right price of your product in such a way that your commission does not exceed what your customer is willing to pay for that product, it will offer you a healthy or huge profit on volume basis turnover. Generally, importers and exporters add 10% to 15% markup over the landing cost. Always keep the golden rule of import export business in mind, The more you Sell, The more you Make.
Find Customers for Import or Export Business
Now, you have to find a right customer who loves your product, Here at this stage SEO will help a lot, I expect you have done a good job with Search Engine Optimization on your blog or website, customers will find you. But don’t rely on it. You should also go hunting for customers…! You should have to make a good relation with local contacts, such as Trade Organizations, Chambers of Commerce, Embassies and Trade Consulates. They might be helpful to get potential clients for import export business.
They generally have a good sense of who’s doing what in the international marketplace. They can offer you appropriate and specific clients related your industry and also suggest Trade Shows that are taking place locally and internationally that might help you get more reliable customers in an efficient way.
The U.S. Commercial Service (CS) Gold Key Matching Service will help you reach more potential overseas Customers, Agents, Distributors, Sales Representatives and Business Partners. It’s an excellent service, every international business or import export business should try U.S. CS.
At the same time, work your Social Media Networking Platforms like your Blog, Facebook, LinkedIn, Twitter, Instagram, YouTube etc. by posting relevant information about your product or service and asking specific questions about your audience’s needs.
This way you will convert more clients and get the more conversations going and keeps it going while making sure it’s related to import export business. The point is to keep your import export business in the minds of potential customers worldwide.
Transport the Order of Import or Export Business
Your next step in import export business is to focus on logistics and transporting the product to where you will be selling it. Solidified the terms of the sale with a buyer and complete all documentation procedures for getting paid. Now you must move your product.
Hire a global freight forwarder or shipping and logistics agent who will serve you all services like transport agent for moving cargo, transportation from a factory door to another warehouse. Shipping and Logistics service provider saves your lot of time in import export business as well as they save our effort and anxiety for a very reasonable fee. Based on import export business information which are provided by you, they take care of all shipping arrangements, which includes but is not sufficient to handling documentation, arranging insurance, if requested, and determining necessary licenses, permits, quotas, tariffs and restrictions (country regulations), these all can be one of the most complicated aspects of importing-exporting for a newcomer international trader for import export business.
There are many well-known shipping and logistics companies that are eager to work with brokers, consultants and small import export business holders such as UPS and Fed Express. They can also assist with getting paid, they also take care and provide guidance for a critical part of the international sales process in import export business.
Provide Great Global Customer Service for Import or Export Business
The relationship between you and your overseas customer shouldn’t end when a sale is made. If anything requires you should give more of your attention for buyer in import export business.
You should take care of after-sales follow-up of import export business as part of product or service offered by your side. After your deal finishing up you should communicate that client in many ways like offering new products or wishing on festivals, or after some period passed to get continuous business. There are many ways of communicating or engaging overseas clients like via Facebook, Whatsapp, Skype, Email or Telephone. You must elaborate your self by thanking him “Thank you for your business…!”, after all we all knows Customer is King. Not only in Import export business but every Business have these tactics.
Find the best ways to provide great global customer service and satisfaction to generate more import export business. Always keep this in your mind client satisfaction and interaction always create good and healthy relations which brings more international import export business.